HS Hwasung Q1 Operating Profit Plunges but Order Backlog of 2.24 Trillion Won and Net Income Sustained
Consolidated revenue of 68,952 million won and operating profit of 1,907 million won, significantly down from the same period last year (revenue 151,094 million won) due to seasonal factors in housing sales
Net income attributable to controlling equity holders of 4,575 million won, EPS of 480 won
Order backlog at end of period stands at 2.24 trillion won, maintaining a healthy level (including many unstarted projects)
Net debt-to-equity ratio at 50.69%, slightly up from 46.53% at year-end 2025
Holding 612,261 treasury shares (6.03%), with 73,010 shares disposed in December 2025
R&D expenditure of 500 million won (0.73% of revenue)
Equity method gains from affiliates (Shinsegae Live Shopping, KCGI Asset Management) contributed to net income
One ongoing defect lawsuit (2,048 million won) in second trial
Contingent liabilities include PF guarantees of 52,900 million won and SOC guarantees of 47,800 million won
Company name changed from Hwasung Industrial to HS Hwasung in July 2024